Power and Global Economic Institutions

Ayse Kaya analyses the relationship between states' economic power and their political power in key multilateral economic institutions.

Ayse Kaya (Author)

9781107120945, Cambridge University Press

Hardback, published 19 November 2015

298 pages, 7 b/w illus. 23 tables
23.5 x 16 x 2.2 cm, 0.57 kg

'Increasingly, students of international political economy are returning to consideration of the role of power in the functioning of the world economy. With this thoughtful analysis, Ayse Kaya makes a notable contribution to current debates, focusing in particular on the relationship between the economic power of states and formal power in multilateral institutions. Even seasoned specialists will find much to learn in this knowledgeable and well-crafted study.' Benjamin Jerry Cohen, University of California, Santa Barbara

What is the relationship between states' economic power and their formal political power in multilateral economic institutions? Why do we see variation in states' formal political power across economic institutions of the same era? In this book, Ayse Kaya examines these crucial under-explored questions, drawing on multiple theoretical traditions within international relations to advance a new approach of 'adjusted power'. She explains how the economic shifts of our time, marked by the rise of Brazil, Russia, India, China and other emerging economies, have affected and will impact key multilateral economic institutions. Through detailed contemporary and historical analyses of the International Monetary Fund, the World Bank, the G20, and the International Trade Organization, Kaya shows that the institutional setting mediates the significance of the underlying distribution of economic power across states. The book presents both case studies and key statistics.

1. Introduction
2. Conceptualizing political asymmetries in multilateral economic institutions
3. The origins of states' formal equality in the global financial institutions
4. The origins of states' voting equality in the post-war multilateral trading system
5. Shifts in political power in the IMF in 2008–10
6. Shifts in political power in the World Bank in 2008–10
7. The G20: a delegatory institution
8. Conclusions.

Subject Areas: Political economy [KCP], International economics [KCL], International relations [JPS]